New terms for ops on Russia's shelf to span 15 years, says Putin

April 12, 2012, 20:01 UTC+3“We’ll thus give investors an opportunity to draw up long-term work plans and to work without force-majeure events or the risks of revision of the rules of the game,” Putin....

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MOSCOW, April 12 (Itar-Tass) — Revised terms for operations on Russia’s continental shelf will span a period of 15 years, Russia’s Prime Minister and President-Elect Vladimir Putin said Thursday at a conference on ways of stimulating development of continental shelf deposits.

“It makes sense to make such terms unchangeable for long period of time and decisions of this kind should remain in place for fifteen or so years,” he said.

“We’ll thus give investors an opportunity to draw up long-term work plans and to work without force-majeure events or the risks of revision of the rules of the game,” Putin said.